New York City Climate change will be one of the key growth drivers for retailers in the coming years, said Sir Terry Leahy, CEO, Tesco PLC, in a presentation Tuesday at the National Retail Federation’s 99th Annual Convention & Expo.

“The science seems incontrovertible,” Leahy said. “We now have got to shift the whole basis of consumption to low carbon. It won’t be less consumption -- people want a better life -- but it will be different consumption.”

For retailers, the shift to reduced carbon consumption represents a significant business opportunity, according to Leahy.

“Those retail businesses who respond first and best to the consumer’s need for low-carbon products and low-carbon living in an affordable way will do the best,” he said. “It is an opportunity for us all.”